/C O R R E C T I O N -- Extreme Networks, Inc./

SAN JOSE, Calif., May 6, 2014

Extreme Networks Reports Third Quarter Fiscal Year 2014 Financial Results

GAAP Revenue: $141.8 million & Non-GAAP Revenue: $143.7 million

GAAP EPS: Loss of $0.26 & Non-GAAP EPS: $0.02

Announces Transition of CFO

SAN JOSE, Calif., May 6, 2014 /PRNewswire/ -- Extreme Networks, Inc. (Nasdaq: EXTR) today released financial results for the third quarter of fiscal year 2014, ended March 31, 2014.  GAAP revenue was $141.8 million and non-GAAP revenue was $143.7 million.  GAAP net loss for the third fiscal quarter was $25.1 million, or $0.26 per share, and non-GAAP net income of $1.6 million, or $0.02 per diluted share.  This is the first quarter that Extreme Networks is reporting full quarter results which include the Enterasys acquisition.

"Revenues of the combined Company grew three percent on a pro forma basis when compared to the prior year, with growth across all four sales regions.  During the quarter we also had a number of product introductions including the release of our 802.11ac wireless products and our 100GbE blade for the BlackDiamond® X8. NetSight 6.0 was also released bringing network control and visibility, long enjoyed by the Enterasys installed base, to Extreme products.  We also expanded our relationship with the NFL announcing that Extreme Networks was selected as the Official Wi-Fi Analytics Provider of the NFL.  During the quarter we also signed an agreement with the Tennessee Titans to provide Wi-Fi infrastructure at LP Stadium," said Chuck Berger, president and CEO of Extreme Networks.

Berger added, "The integration efforts following the acquisition of Enterasys continue ahead of plan with the next major milestone, combining our ERP onto a single platform, on target to occur early in the first fiscal quarter of 2015. Once completed, we will be able to truly operate as a single Company and realize further cost synergies from the acquisition."